MCH buys pipes manufacturer Molecor

Alessia Argentieri
12 August 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

MCH Private Equity has acquired a majority stake in Molecor, a Spanish manufacturer of molecular orientated PVC (PVC-O) pipes.

The deal includes a capital increase to support the company's international expansion and further boost the development of its technology and product offering.

This is the second acquisition made by the GP via MCH Iberian Capital Fund V, following its investment in Spanish food ingredients producer Prosur, backed at the beginning of the month.

The fund was launched in 2019 with a €400m target and held a €200m first close in April 2020. It invests in medium-sized companies generating EBITDA of €5-15m that are headquartered in the Iberian peninsula, and deploys equity tickets in the €20-50m range.

Company
Established in 2006 and based in Madrid, Molecor specialises in manufacturing PVC-O pipes for the conveyance of water at medium and high pressure for irrigation systems, drinking supplies, industrial uses and fire protection applications.

The company sells its products across Europe and has operations in Latin America and South Africa. It employs 121 staff.

People
MCH Private Equity – José María Muñoz (founding partner).

Advisers
Equity – Garrigues (legal); KPMG (financial due diligence); Aon (insurance due diligence).
Company – PwC (financial due diligence); Araoz & Rueda (legal).